Oak Grove Capital LLC Sells 1,750 Shares of Thermo Fisher Scientific Inc. $TMO

Oak Grove Capital LLC lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 54.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,444 shares of the medical research company’s stock after selling 1,750 shares during the quarter. Oak Grove Capital LLC’s holdings in Thermo Fisher Scientific were worth $700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. Vanguard Group Inc. grew its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after buying an additional 309,207 shares during the last quarter. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth $2,264,615,000. Franklin Resources Inc. boosted its holdings in Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares during the period. Bank of New York Mellon Corp grew its position in Thermo Fisher Scientific by 54.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after buying an additional 74,971 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on TMO. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Citigroup lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Stock Down 2.3%

Shares of NYSE:TMO opened at $509.09 on Tuesday. The company has a 50 day moving average price of $572.91 and a two-hundred day moving average price of $548.55. The company has a market capitalization of $189.12 billion, a PE ratio of 28.70, a PEG ratio of 3.01 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the company earned $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a dividend of $0.47 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michel Lagarde sold 22,046 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the completion of the sale, the chief operating officer owned 84,117 shares in the company, valued at $47,404,976.52. This trade represents a 20.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,446 shares of company stock worth $31,309,204 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.